SPACs aren’t dead — they’re just misunderstood. In this episode of Spark, Yon Perullo speaks with Louis Camhi, founder of RLH Capital, about the evolving landscape of Special Purpose Acquisition Companies.

Louis challenges the conventional view that SPACs are just speculative equity plays, arguing instead that they offer a treasury-backed, fixed-income-like profile with asymmetric upside. From navigating today’s market volatility to the lessons learned post-SPAC boom, this conversation offers a fresh look at how these vehicles can fit into a modern investment strategy.

If you're looking for ways to diversify portfolio risk, spot hidden opportunities, and better understand capital markets innovation, you’ll find a lot to spark your thinking here.

In this episode of Spark, Yon Perullo sits down with Kamal Suppal, founder of Emerging Markets Alternatives, to explore how smaller investment managers can thrive in a competitive and often biased landscape.

With over two decades of experience across global asset management, Kamal explains the importance of rigorous due diligence, the opportunities market turbulence can create for nimble managers, and why defining a clear niche is critical to winning institutional capital.

From practical advice for GPs to insight on how LPs evaluate new managers, this conversation shines a light on the real work — and real opportunity — behind emerging manager investing.

In this episode of Spark, Heather Beatty of ScopeFour Capital discusses her firm's thematic approach to energy transition and resource efficiency investments in global public equity markets. Heather explains that emissions reduction represents a "multi-decade secular trend" affecting 140 countries and over 5,000 public companies. Learn why buildings contribute 40% to emissions, how two-thirds of necessary climate solutions already exist but need scaling, and why ScopeFour's concentrated portfolio of 30-40 companies is "extremely uncorrelated" with traditional indices. Discover how their investment approach focuses on companies with economically viable solutions, why Japan is an "unrecognized giant in energy efficiency," and how policy changes affect their investment strategy. Heather also shares her personal journey from institutional asset management into climate-focused investing.